Tuoi Tre News has reported that Vietnam’s economy has the chance to expand at a faster pace than that of China in 2016, and what matters is whether the country can grab the opportunity, an economist has said.

For those members that has operated your businesses in Vietnam will understand the complexities of the bureaucratic red tapes surrounding the business environment in Vietnam. Since the economic revolution, the Vietnamese government has also been trying to navigate the complexities of the global economy, trying to attract more FDIs into Vietnam.

Tuoi Tre News has reported that Vietnam’s economy has the chance to expand at a faster pace than that of China in 2016, and what matters is whether the country can grab the opportunity, an economist has said.

For those members whom are operating their businesses in Vietnam will understand the complexities of the bureaucratic red tapes surrounding the business environment in Vietnam. Since the economic reforms, the Vietnamese government has also been trying to navigate the complexities of the global economy, trying to attract more FDIs into Vietnam.

The Vietnam Business Forum (VBF) was established in 1997 during the annual Consultative Group meeting between the Vietnamese Government and its donor partners, as a not-for-profit, non-political channel for nurturing public-private dialogue to develop a favourable business environment that attracts domestic and foreign private sector investment and stimulates sustainable economic development in Vietnam.

This is done primarily through high profile bi-annual Forums between the business community and Vietnamese leadership and through specialized Working Groups cutting across sectors. The Consortium is led by five Consortium Members and supported by 11 Associate Members which are foreign and local business associations and chambers of commerce in Vietnam. Singapore Business Group is an associate member of this Consortium.

Photo: Mr Andy Lim (Vice President of SBG) and Mr David Watson (General Director of Industry Travel Asia) was sharing about the challenges in operating business in Vietnam

The Singapore Business Group (SBG) hosted the Raffles Night “Open Dialogue: Having PROBLEMS Operating Businesses In Vietnam? We will like to hear from you” at Hotel Equatorial Ho Chi Minh City, last Wednesday, 20th July. This event was organized with the aim of gathering all the difficulties and perplexities that SBG members and other foreign & local entrepreneurs currently face in establishing and running businesses in Vietnam, as well as to gather opinions and feedbacks with the possibility of raising them in the next VBF forums.

Photo: The speech of Mr Tan Robert (Director – Business Development of Lac Hong Voyages Co., Ltd.)

The event was co-hosted by nine esteemed business chambers and associations in Ho Chi Minh city, which are the Australian Chamber of Commerce Vietnam (Auscham), the British Business Group Vietnam (BBGV), the Dutch Business Association Vietnam (DBAV), theFrench Chamber of Commerce and Industry in Vietnam (CCIFV), the Hong Kong Business Association Vietnam (HKBAV), the Korean Chamber of Commerce & Industry in Ho Chi Minh City (Kocham), the Indian Business Chamber of Vietnam (InCham), the Italian Chamber of Commerce in Vietnam (Icham) and the Malaysian Business Chamber Vietnam (MBC).

The Open Dialogue attracted more than 70 participants, who came to raise their voice and give opinions in dealing with challenges when running business in Vietnam. They also comfortably shared with other attendees about their business as well as useful information and tips to operate business successfully.

SBG is honoured to be supported by the Vietnam – Singapore Business Forum. Their sponsorship contributed greatly to the success of the event.

Photos: The attendees presented and discussed about the challenges they faced in their businesses during the Open Dialogue hosted by SBG.